Great Plains Energy Added to Goldman Sachs Conviction Buy List

Sep 26, 2011
J. Webster
Comments Off on Great Plains Energy Added to Goldman Sachs Conviction Buy List

Goldman has added the public utility holding company Great Plains Energy to their conviction buy list. And with a dividend yield of over 4%, this seems like a good stock to own in this volitile market. However, Goldman gave the stock a price target of $21, and Great Plains closed at over $20 just today.

“The firm sees GXP as a 2013 story, after the next rate case. They said overhangs, including delays in coal shipments, should abate later the year, while above-average weather presents upside to 3Q2011 estimates and cash flows.”

As is often the case with the Goldman Sachs conviction buy list add, the stock will run up perhaps for a day or two, but often the pop is short lived, perhaps even just a short squeeze. Although this depends upon how much the stock is down currently and the direction of the overall economy and market in general.

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